Imo it depends how hard buyers want to work for those recently...

Imo it depends how hard buyers want to work for those recently issued shares Oily. There will definitely b decent overhang from this last placement. But then I'm pretty sure some brokers and short term funds will hold some in their magazines to trade IF/WHEN it moves prior to spud and/or post spud into results.

The interesting thing to me is that THEY KNOW the oils down there ..... yada yada yada. Hence Laz's point on the importance of flow. No point in getting worked up about 3B Bbbls if u can't get any out of the ground and economically.

My assertion would b that with the sp having held strong at around 4c for so long that these punters are reasonably confident. That's a market cap of 160M for a little while now and one doesn't often see that kind of support for a market perception of a company with nothing.

We may not c it move until spud with buying manipulators keeping a cap on it. My guess is if this is the case we will c a few little volume runs at 4/4.1 so they get their fill. Hoping to be able to get a few more after my SMSF debarcle. Putting very careful thought into it tho.

There is some pretty big money tied up in this now with all the cash raised in the last couple of years and the fact that quite a proportion has been done at that higher market cap value is implying something positive imho.

But then that's a distinctly subjective 88e holders view.

d.